Steve Korf was featured in Petition LLC’s two-part series, “The Professionals Weigh In,” December 15, 2021.
Petition reaches out to various restructuring professionals each year, including ToneyKorf Partners, LLC’s Senior Managing Director, Steve Korf, to give them an opportunity to share their perspectives on various topics.
In Part I of the series, Petition first asked Steve what his selection for the Chapter 11 bankruptcy case of the year would be, Steve said, “The Hertz bankruptcy. The case looked a lot more like the old school, successful, balance sheet restructurings we used to see in Chapter 11, versus the 363 liquidation sales that have become the standard more recently.” He continued to say, “Secondly, Belk deserves a notable mention for emerging from bankruptcy with record speed, though some think the jury is still out on whether the restructuring will ultimately be successful.”
The second question Petition LLC posed to Steve Korf had to do with the biggest restructuring themes to emerge out of 2021. Steve said: “The future of third-party releases (Purdue Pharma). The future of venue shopping (Johnson & Johnson and NRA).”
Part II of Petition’s annual round-up of professionals’ asked the biggest restructuring themes this coming year. Steve stated, “Third-party releases and venue shopping will continue to be hot topics into 2022. As a healthcare advisor, I would be remiss if I didn’t mention the themes we are predicting in the healthcare industry in 2022. With temporary stimulus funding drying up from the CARES Act, the financial strain on hospitals and health systems will no longer be masked. While we expect hospitals may receive limited funding from the various federal infrastructure and support packages going forward, it will only provide a short-term solution to long-term operational problems and extend the timeline for entities that would otherwise be absorbed by larger systems, file for bankruptcy, or close.”
Read additional questions and themes from various restructuring professionals here: